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Benchmark indices continue to maintain the subdued activity weighed down by pharma and metal shares.
At 13:10 PM, the Sensex was down 76 points at 26,982 and the Nifty dropped 17 points at 8,077.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained between 1-1.3%.
The market breadth in BSE remains firm with 1,805 shares advancing and 1,017 shares declining.
Meanwhile, the provisional data released by the stock exchanges after trading hours yesterday, showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 9.91 crore on that day.
The rupee is trading at 60.91/92 versus Wednesday's close of 60.94/95, after rising to a session high of 60.83 earlier in the day.
ASIAN MARKETS
Japan's Nikkei share average rose to an eight-month high on Thursday as the weak yen lifted sentiment and a meeting between the central bank governor and prime minister boosted expectations of additional easing in the long-term.
The Nikkei climbed 0.8% to 15,909.20, the highest closing level since Jan 10. The broader Topix hit a six-year high, rising 0.3% to 1,311.24.
Bank of Japan Governor Haruhiko Kuroda said he told Prime Minister Shinzo Abe that the central bank will not hesitate to ease policy further if its 2% inflation goal becomes difficult to achieve.
SECTORS & STOCKS
BSE Healthcare index has plunged by nearly 2% followed by counters like Metal, Consumer Durables, Oil & Gas, IT and Auto, all slipping between 0.1-1%. BSE FMCG, Capital Goods and Realty indices have gained between 0.4-0.5%.
The main losers on the Sensex are Sun Pharma, Coal India, ONGC, Wipro, M&M and GAIL.
Sun Pharmaceuticals Industries has dipped 4% on reports that the company’s manufacturing facility in Halol (Gujarat) is undergoing a surprise inspection by the US Food and Drug Administration (US FDA).
On the gaining side, SBI, HDFC, HUL, Hero Moto and L&T have gained by 1% each.
Among other shares, Bharat Electronics has surged 3.6% to Rs 2,123 on the BSE after Motilal Oswal initiated 'buy' rating on the stock and a target of Rs 2,600.
